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256 RATIONALIZATION IN INDIAN BUSINESS ENTERPRISE
the eyes of the economic world to the lines along which
-rationalization can be consummated in the domain of
.agr.iculture whether as regards restriction or expansion of
·acreage, financing of cultivation, or storage and marketing
;of crops. The possibilities in this field are immense as
would be evident from the fact that the American government
has placed at the disposal of the newly created
Board the huge sum of $500,000,000. Indeed, the
tendency is to look upon the F ederaI Farm. Board almost
as on a par with the Federal Reserve Board of the banking,
and currency system.
Agricultural rationalization is not entirely unknown
in Indian economic experiences. 25 The attempt to
economize credit transactions with a view to agricultural
operations ot rather to place at the disposal of cultivators
the facilities for short-period loans on relatively easy telms.
and thus to a certain extent emancipate the peasant world
front the grip of the " loan-sharks •• has in India as elsewhere
led to the institution of co-operative credit societies.
The Co-operative Credit Societies' Act of 1904 has been
enlarged into the Co-operative. Societies Act of 1912. In
its present form the Act may be regarded as in a certain
measure calculated to rationalize the purchase, cultivation
and marketing done by agriculturists in addition to their
credit transactions such as were exclusively taken care of
by the legislation of .1904:
25 Sarkar :'Model'nisierung der indischen Landwirtschaft' (Berichte
tiber Lanawirtschaft, Bedim, Band x"Iv, Heft' 2, 1931).
For the general principles of rationalization in agr:culture see L'organiaa-.
tion 8cientifique au Travail Agricole en Europe (Rome, 1930), ch. XII, and
'Scientilic Management and German Agriculture' in the International Labour
Review' (Geneva 1927).